Elon Musk’s xAI is set to secure a $20 billion funding round, surpassing initial plans, with investments from Nvidia and other backers. The financing, a mix of equity and debt, will fund a special purpose vehicle to acquire Nvidia processors for xAI’s Colossus 2 project. Nvidia’s contribution includes up to $2 billion in equity, boosting its clients’ AI development efforts. Carmen Arroyo and Edward Ludlow for Bloomberg News:
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Wednesday, October 8, 2025
xAI’s $20 billion mega-raise: Nvidia chips fuel Elon Musk’s AI Colossus expansion
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